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NYSE:NEM
This summary was created by AI, based on 3 opinions in the last 12 months.
Newmont Mining (NEM) has garnered positive feedback from various experts, who note its substantial price increase over recent months, highlighting a significant rise from $40 to $127. With gold prices on the rise, one expert mentions a remarkable upsurge of 168% attributed to this trend, signaling strong momentum for the company. While some analysts express preference for alternative investments like Agnico Eagle Mines (AEM-T), they still recognize Newmont as a sound choice in the sector. Another analyst, despite having switched out of Newmont to capitalize on another intermediate producer, remains optimistic about gold's future and acknowledges Newmont's bullish prospects. Overall, Newmont is viewed favorably as a reliable player in the mining space amid fluctuating market sentiments towards gold.
The USD and gold price The debt clock in Times Square will hit $30 trillion in a couple weeks. If you can't get bearish on the USD with that, he doesn't what will. He was wrong--he thought the USD would continue to slide since last fall into this spring, but it's obviously bounce--but the bounce is temporary, he thinks. The dollar will continue to fall, which will benefit metals. He didn't think gold would fall down here, either, but at least gold has held the low of June 2020. In this space, Newmont around $57 off last summer's $70 looks interesting.
*Short* Hates gold companies and gold prices. We are in for another decade or more of disappointment. This is one of the few material names in the US, so it is widely held by generalists, but what it doesn’t have going for it is growth. Has had no growth for years. Huge issues with debt at $6.8 billion. It needs to spend roughly $2.6 billion over the next year or so, just to maintain production. If the Swiss don’t vote for gold to be backed by the central bank reserve, then gold will be under pressure and gold stocks will be very, very weak. Yield of 0.51%.
Likes it, but buy Barrick instead. The gold stocks as a whole are hot.